President Donald Trump signed the partial trade deal with Beijing in January, but the coronavirus pandemic has since hammered China's economy.
There will be little progress in the phase one trade deal ahead of the U.S. presidential election in November, former U.S. ambassador to China Max Baucus said on Tuesday.with Beijing in January, but the coronavirus pandemic has since hammered China's economy. There are now doubts if the Asian giant will be able to fulfill its commitments to large purchases agreed to in the deal.
With Trump preoccupied with securing a second term and China finding it difficult to live up to its end of the deal, there will be few constructive developments until after the election, Baucus told CNBC's"There will be a lot of rhetoric back and forth, but I don't know that there is going to be a lot of substantive, meaningful agreements for change," he said.
"It's probably not going to get worse, maybe it will reach a bottom here," Baucus said of a Biden win. "He knows that to get deals with countries, you have to not criticize them. You can't force them to dig in their heels publicly, you got to negotiate," he said.
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